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This was personal property - inherited home - but in my research - as it was sold to a niece - a loss is allowed as the niece doesn't fall under the "related" p...
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I was trying to research and figure out the issue of adding the gift of equity to the cost basis of the seller. I had never done that but was advised that "this...
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It was a loss even without consideration of gift of equity.Sale price on 1099S: $135,000FMV per appraisal: $170,000Gift of equity $17,000If gift of equity is ad...
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Thank you very much for the quick response. I would like to ask opinion from you or others out there, about the gift of equity. I have been researching a lot an...
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Taxpayer sold an inherited home at a loss to his niece (his brother's daughter.) Is this niece considered a "related party" to the sale, therefore, disallowing ...
